Detailed Single Year Tables

Description of Proposed Provision:
Reduce individual Social Security benefits if modified adjusted gross income, or MAGI (AGI less taxable Social Security benefits plus nontaxable interest income) is above $60,000 for single taxpayers or $120,000 for taxpayers filing jointly. This provision is effective for individuals newly eligible for benefits in 2020 or later. The percentage reduction increases linearly up to 50 percent for single/joint filers with MAGI of $180,000/$360,000 or above. Index the MAGI thresholds for years after 2020, based on changes in the SSA average wage index.

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2013

13.95

12.69

-1.26

330

0.00

0.00

0.00

2014

14.04

12.83

-1.20

315

0.00

0.00

0.00

2015

13.97

12.86

-1.10

301

0.00

0.00

0.00

2016

13.91

12.88

-1.03

286

0.00

0.00

0.00

2017

13.88

12.90

-0.98

271

0.00

0.00

0.00

2018

13.91

12.93

-0.98

257

0.00

0.00

0.00

2019

14.06

12.95

-1.11

244

0.00

0.00

0.00

2020

14.25

12.97

-1.28

231

-0.01

0.00

0.01

2021

14.43

12.99

-1.43

218

-0.02

0.00

0.02

2022

14.67

13.02

-1.65

204

-0.03

0.00

0.03

2023

14.92

13.04

-1.88

190

-0.05

0.00

0.05

2024

15.15

13.05

-2.10

175

-0.07

0.00

0.07

2025

15.37

13.07

-2.30

160

-0.11

0.00

0.10

2026

15.57

13.08

-2.49

145

-0.14

-0.01

0.14

2027

15.75

13.09

-2.66

129

-0.18

-0.01

0.17

2028

15.94

13.10

-2.83

113

-0.20

-0.01

0.19

2029

16.10

13.11

-2.99

96

-0.23

-0.01

0.22

2030

16.24

13.12

-3.12

78

-0.25

-0.01

0.24

2031

16.36

13.13

-3.23

60

-0.27

-0.01

0.26

2032

16.47

13.14

-3.33

41

-0.29

-0.01

0.27

2033

16.56

13.14

-3.42

22

-0.30

-0.01

0.28

2034

16.62

13.15

-3.47

2

-0.31

-0.01

0.30

2035

16.66

13.15

-3.51

----

-0.32

-0.02

0.31

2036

16.67

13.15

-3.52

----

-0.34

-0.02

0.32

2037

16.68

13.15

-3.52

----

-0.34

-0.02

0.33

2038

16.67

13.15

-3.51

----

-0.35

-0.02

0.33

2039

16.64

13.15

-3.48

----

-0.36

-0.02

0.34

2040

16.60

13.15

-3.45

----

-0.36

-0.02

0.35

2041

16.56

13.15

-3.41

----

-0.37

-0.02

0.35

2042

16.52

13.15

-3.37

----

-0.38

-0.02

0.36

2043

16.49

13.15

-3.33

----

-0.38

-0.02

0.36

2044

16.46

13.15

-3.31

----

-0.38

-0.02

0.36

2045

16.45

13.15

-3.30

----

-0.38

-0.02

0.36

2046

16.43

13.15

-3.28

----

-0.38

-0.02

0.37

2047

16.42

13.15

-3.27

----

-0.39

-0.02

0.37

2048

16.40

13.15

-3.25

----

-0.39

-0.02

0.37

2049

16.39

13.15

-3.24

----

-0.39

-0.02

0.37

2050

16.39

13.15

-3.24

----

-0.39

-0.02

0.37

2051

16.40

13.15

-3.24

----

-0.40

-0.02

0.38

2052

16.41

13.15

-3.26

----

-0.40

-0.02

0.38

2053

16.44

13.16

-3.28

----

-0.40

-0.02

0.38

2054

16.47

13.16

-3.31

----

-0.40

-0.02

0.38

2055

16.50

13.16

-3.34

----

-0.41

-0.02

0.39

2056

16.55

13.16

-3.38

----

-0.41

-0.02

0.39

2057

16.59

13.17

-3.42

----

-0.41

-0.02

0.39

2058

16.63

13.17

-3.47

----

-0.42

-0.02

0.40

2059

16.68

13.17

-3.51

----

-0.42

-0.02

0.40

2060

16.72

13.18

-3.55

----

-0.42

-0.02

0.40

2061

16.77

13.18

-3.59

----

-0.42

-0.02

0.40

2062

16.81

13.18

-3.63

----

-0.42

-0.02

0.40

2063

16.85

13.18

-3.67

----

-0.42

-0.02

0.40

2064

16.89

13.19

-3.71

----

-0.42

-0.02

0.40

2065

16.93

13.19

-3.75

----

-0.42

-0.02

0.40

2066

16.98

13.19

-3.79

----

-0.42

-0.02

0.40

2067

17.02

13.19

-3.83

----

-0.43

-0.02

0.40

2068

17.07

13.20

-3.87

----

-0.43

-0.02

0.41

2069

17.11

13.20

-3.91

----

-0.43

-0.02

0.41

2070

17.16

13.20

-3.96

----

-0.43

-0.02

0.41

2071

17.19

13.20

-3.99

----

-0.43

-0.02

0.41

2072

17.23

13.20

-4.02

----

-0.43

-0.02

0.41

2073

17.25

13.21

-4.04

----

-0.43

-0.02

0.41

2074

17.27

13.21

-4.06

----

-0.43

-0.02

0.41

2075

17.29

13.21

-4.08

----

-0.43

-0.02

0.41

2076

17.30

13.21

-4.09

----

-0.43

-0.02

0.41

2077

17.30

13.21

-4.09

----

-0.43

-0.02

0.41

2078

17.31

13.21

-4.10

----

-0.43

-0.02

0.41

2079

17.32

13.21

-4.10

----

-0.43

-0.02

0.41

2080

17.33

13.21

-4.12

----

-0.43

-0.02

0.41

2081

17.34

13.21

-4.13

----

-0.43

-0.02

0.41

2082

17.37

13.21

-4.15

----

-0.43

-0.02

0.41

2083

17.40

13.22

-4.18

----

-0.43

-0.02

0.41

2084

17.44

13.22

-4.22

----

-0.44

-0.02

0.41

2085

17.48

13.22

-4.26

----

-0.44

-0.02

0.42

2086

17.52

13.22

-4.30

----

-0.44

-0.02

0.42

2087

17.57

13.22

-4.35

----

-0.44

-0.02

0.42

2088

17.62

13.23

-4.40

----

-0.44

-0.02

0.42

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2013 Trustees Report.

2013-2087

16.30%

13.86%

-2.44%

2034

-0.29%

-0.01%

0.28%

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1 Under present law, the year of Trust
Fund reserve depletion is 2033.